TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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February 27, 2024
Source: Ares Commercial Finance
NEW YORK – February 28, 2024 – Ares Commercial Finance is pleased to announce that it has expanded its presence in Michigan with the addition of Victor Verazain as Managing Director for the Business Development and Underwriting teams. Verazain will be based in Southeastern Michigan and will assist in covering the Michigan market, where he will have cross-functional business development and underwriting responsibilities. In his role, he will work to support the Ares platform, as well as its ever-growing product suite including ABL, equipment financing, first lien, split lien, FILO and second lien transactions.
Verazain joined Ares in 2016 and has 27 years of experience in the financial industry. Prior to Ares, he spent 19 years with General Electric across multiple GE business units including GE Capital Commercial Finance & Sponsor Finance platforms.
“We are excited to expand our presence in the state of Michigan,” said Mitch Drucker, Partner in Ares Management’s Credit Group. “Victor has significant experience in lending, and we expect him to play a key role in the Michigan market supporting our growth and structuring our broad product offerings.”
About Ares Commercial Finance
Ares Commercial Finance (“ACF”) is the commercial finance platform of Ares Management Corporation. ACF provides credit facilities up to $300 million to middle market and lower-middle market companies. ACF addresses a wide scope of industries including manufacturing, distribution, wholesale, retail, and service with a product suite consisting of asset-based, asset-backed and priority cash flow revolvers and term loans in addition to trade receivables securitizations and supply chain financing. Leveraging the breadth and experience of the Ares platform, ACF works with borrowers to deliver creative, flexible, and customized financing solutions for a variety of financing needs: general refinancing, working capital/growth, acquisitions, restructuring/turnaround situations, debtor-in-possession/exit financing, and special accommodation financing. For more information on ACF visit www.arescommercialfinance.com.
About Ares Management Corporation
Ares Management Corporation (NYSE:ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2023, Ares Management Corporation's global platform had approximately $419 billion of assets under management, with approximately 2,850 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
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